Vox is a little and simple music player for Mac OS X with support for many file types, including FLAC, MP3, AAC, Musepack, Monkey's Audio, OGG Vorbis, Apple Lossless, AIFF, WAV, IT, MOD, XM, Games Music and many others. Includes numerous effects like Equalizer, Reverb, Time Stretch, Pitch Shift, Echo. Moreover, all supported files can be exported to AAC+, Apple Lossless, WAV and other formats with enabled effects.

Under Snow Leopard, Vox seems to be able only to play the files. It cannot convert them to other formats. The graphics for the equaliser and the other effects are working, but they do nothing to the sound.
Today the app's website is down. I hope Vox did not die. It is (was?) such a nice player/converter.

I had been using Cog to quickly sample and then found Vox. It is real small, light on the cpu, and the interface matches this minimalism. It is a tad bigger than the iTunes Mini Window and still looks better--and, this is before looking under the hood for the impressive array of audio controls/manipulations. Even has last.fm tagging and shortcuts build-in.

Very lightweight on the old RAM, very speedy. I've used it for 6 months, never crashed. I threw a 1GB wav file at it, and it chugged for a bit.. but didn't break. As it is obviously useful for people who are looking for something minimal, making it even smaller/global hotkey controls would be a good step forward.